Westpac goes big as MTNs move into peripheral markets

Hong Kong island adobe stock 230x150
By Frank Jackman
03 Sep 2019

Westpac placed just under HK$13.4bn into the Hong Kong market across two MTNs last week — the pair of bonds are its largest ever in the currency, according to Dealogic. The notes came in a busy week for niche issuance, and bankers have posited that this move into the peripheral markets comes as a response to the global fall in yields.

Westpac sold a pair of HK$6.7bn ($854.4m) floaters. It printed a September 2021 bond, paying a coupon of three month Hibor plus 43bp, on August 28, and a March 2022 note, paying a coupon of three month Hibor plus 47.5bp, on August 30. HSBC priced both ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.